Jan. 25 (Bloomberg) -- A shareholder of Arbitron Inc.,
which measures radio audiences for advertisers, asked a judge to
halt the sale of the company to Nielsen Holdings NV, claiming a
breakup fee and other deal terms prevent competing offers,
according to a lawsuit made public today.

Shareholder Joseph Pace claimed Arbitron’s break-up fee of
$32.7 million and a provision in confidentiality agreements
signed by other bidders “ensure any legitimate bidder has been
effectively shut out of the process.” Pace filed the lawsuit in
Delaware Chancery Court in Wilmington.

In December, Nielsen, the biggest tracker of U.S.
television ratings, agreed to buy Arbitron Inc. for about $1.26
billion in cash, giving it access to the largest source of data
on the country’s radio listeners. The deal requires regulatory
approval.

Kim Myers, a media representative for Columbia, Maryland-based Arbitron, said in an e-mail that the company would not
comment on the filing.

Pace is asking the court to prevent Arbitron from closing
the sale until the company adopts procedures that will “obtain
the highest possible price for shareholders.”